Kingsoft Cloud (NASDAQ:KC) Shares Down 11.6% – Time to Sell?

Kingsoft Cloud Holdings Limited (NASDAQ:KC) traded down 11.6% on Thursday . The stock traded as low as $17.06 and last traded at $16.77. 1,032,259 shares were traded during trading, a decline of 72% from the average session volume of 3,723,178 shares. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Nomura upgraded Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.30 to $6.70 in a research report on Friday, November 22nd. UBS Group upgraded shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.20 to $12.50 in a report on Friday, December 6th. Finally, Nomura Securities upgraded shares of Kingsoft Cloud from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $5.93.

Kingsoft Cloud Stock Down 1.0 %

The stock has a market cap of $4.14 billion, a P/E ratio of -13.61 and a beta of 2.31. The company’s 50 day moving average price is $13.52 and its two-hundred day moving average price is $7.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Kingsoft Cloud

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Kingsoft Cloud by 30.9% during the third quarter. Blue Trust Inc. now owns 18,888 shares of the company’s stock valued at $56,000 after buying an additional 4,458 shares during the period. Walleye Capital LLC bought a new position in Kingsoft Cloud during the 3rd quarter worth about $119,000. Marshall Wace LLP purchased a new position in Kingsoft Cloud during the 4th quarter valued at about $119,000. Vise Technologies Inc. purchased a new position in Kingsoft Cloud during the 4th quarter valued at about $125,000. Finally, Cetera Investment Advisers bought a new stake in shares of Kingsoft Cloud in the 4th quarter valued at about $138,000. 13.40% of the stock is currently owned by hedge funds and other institutional investors.

About Kingsoft Cloud

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, network, database, big data, security, storage, and delivery solutions.